Investment Firms Tap Fed for Billions

Breitbart/AP ^ | 4/3/08 | JEANNINE AVERSA

[kiriath_jearim]

WASHINGTON (AP) - Big Wall Street investment companies are borrowing a bit more from the Federal Reserve's emergency lending window.

The Federal Reserve reports that those firms averaged $38.1 billion in daily borrowing over the past week from the new lending program. That compared with $32.9 billion in the previous week and $13.4 billion in the first week the lending facility opened.

[bjs1779]

"Big Wall Street investment companies are borrowing a bit more from the Federal Reserve's emergency lending window"

Sounds like quite a bit. Of course it's all guaranteed in collateral at no risk to the taxpayers. /s

[tcostell]

This isn't a problem... it's what the window is for. This is just how the federal reserve works.

There is no story here.

[bjs1779]

There is no story here.

I was just trying to make the poster appreciated. Sorry I doubted the Fed.

[tcostell]

I’ll listen to complaints about inflation same as the next libertarian leaning guy, but banks borrowing at the window just isn’t the kind of thing that anyone should be getting worked up about.

[bjs1779]

I’ll listen to complaints about inflation same as the next libertarian leaning guy, but banks borrowing at the window just isn’t the kind of thing that anyone should be getting worked up about.

Begs the question that if the bsnks were solvent, why do they need to borrow all of this money? No complaints.